Eve & Co Incorporated (TSXV: EVE) announced this morning that it will be entering the cannabis beverage space. The female-focused firm will be doing so via a partnership with that of Colio Estate Wines, the firm behind the Girls Night Out line of wine products.
Under the letter of intent signed between the two firms, Eve & Co will have exclusive access to the Girls Night Out brand for the purpose of creating a premium cannabis-infused beverage. The product will then be part of Eve & Co’s consumer packaged good launch which is anticipated to occur in early 2020.
The letter of intent indicates that a licensing agreement will be entered into among Eve & Co and Colio Estate Wines within 60 days for the use of the Girls Night Out label. Preliminary terms indicated to be within the LOI are a five year term, with a five year renewal option. Royalty fees have been “contemplated” however no specifics were provided.
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Distribution of the cannabis infused beverage is expected to occur in 2020.
Eve & Co last traded at $0.18 on the TSX Venture.
Information for this briefing was found via Sedar and Eve & Co Incorporated. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
